EV Battery Component Maker Entek Poised to Get $1.2 Billion US Loan
- Conditional loan will help make battery separators used in EVs
- Loan to finance new Indiana plant for lithium-ion separators
Lithium-Ion separator at the Entek headquarters in Lebanon, Oregon.
Source: Entek InternationalThe Biden administration is poised to lend $1.2 billion to Entek Lithium Separators LLC to help expand the US supply chain for lithium-ion batteries used in electric vehicles.
The closely held battery component maker has been offered a conditional loan by the US Energy Department to help pay for a new manufacturing facility west of Indianapolis that will make lithium-ion battery separators mainly for EVs, according to a Tuesday announcement by the government agency. The loan dovetails with broader White House goals of expanding domestic clean energy supply chains.